US Congressman Warren Davidson has announced that cryptocurrency Cryptocurrency as an antidote to fraud on the exchange FTX. He is promoting a bill called the “Keep Your Coins Act” that aims to “protect against false attempts to limit self-control.”
US lawmakers push for self-control
Rep. Warren Davidson (Ohio Republican) has announced that cryptocurrency self Advertised management. He tweeted on Wednesday:
Self-custody is his antidote to FTX fraud and my coin storage law protects against erroneous attempts to limit self-custody. increase.
“Those who attack self-control are saying they are against individual liberty,” he added.
In response to a question on Twitter why we need new laws when people can already manage themselves today, a member of the House of Representatives replied:
Now and before Treasury secretaries have discussed banning what they call “self-hosted wallets” — self-custody. Senator Elizabeth Warren and many other members of Congress have proposed a ban. Like the Bill of Rights, it must be actively protected to protect freedom.
The Ohio House of Representatives announced the “Keep Your Coins Act” in February. Noting that the bill seeks to “protect the privacy rights of Americans when transacting with crypto assets,” lawmakers explained at the time. self-manager.
Senator Elizabeth Warren unveiled a bill last week called the Digital Assets Anti-Money Laundering Act. According to her crypto advocates, this is “the most direct attack yet on the personal freedoms and privacy of cryptocurrency users and developers.”
Last week, Davidson, the former FTX CEO, said he believes Sam Bankman-Fried (SBF) was arrested before his House and Senate hearings. Give Congress a chance to ask the SBF about failed oversight.
One of the senators who recently hinted at the possibility of banning cryptocurrencies was Sen. )is. However, he acknowledged that banning cryptocurrencies would be “very difficult because it goes offshore and nobody knows how it works”.
Senator Brown Rep. Davidson tweeted:
Ohio needs a new senator, Senate Banking Committee needs new chairman and Congress needs to understand its failure to act is to actively expose consumers, investors and innovators to avoidable risks.
Senator Pat Toomey (R-PA), a senior member of the Senate Banking Committee, agreed with Davidson. He stressed that the idea of banning cryptocurrencies is “extremely misguided, let alone impossible.” A Pennsylvania senator said, “Cryptocurrency cannot be stopped unless we enact draconian, authoritarian policies.
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